Sensex Ends Day in Green; IT, Bank Stocks Rally

Mon, 30 Apr Closing

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After opening the day in green, share markets in India continued the momentum throughout the day and ended the day in green. Sectoral indices were mixed, with stocks in the and stocks in the banking sector> leading the gains.

At the closing bell, the BSE Sensex stood higher by 191 points (up 0.6%) and the NSE Nifty closed up by 47 points (up 0.4%). The BSE Mid Cap index ended the day up 0.6%, while the BSE Small Cap index ended the day up by 0.9%.

Asian stock markets finished in red. As of the most recent closing prices, the Hang Seng was up by 1.8% and the Shanghai Composite was up by 0.4%. The Nikkei 225 was up by 0.7%. Meanwhile, European markets too were trading in green. The FTSE 100 was up by 0.5%, The DAX, was up by 0.1% while the CAC 40 was up by 0.2%.

The rupee was trading at Rs 66.35 against the US$ in the afternoon session. Oil prices were trading at US$ 67.37 at the time of writing.

In news from stocks in the banking and finance sector. Kotak Mahindra Bank share price ended the day on an encouraging note after the bank reported robust results for the quarter ended March 2018.

The bank's net profit went up by 15.1% in the quarter boosted by higher net interest income and other income.

Kotak Bank's net profit for the quarter stood at Rs 11.2 billion against Rs 9.8 billion in the same period a year ago.

Net interest income (NII), or the core income a bank earns by giving loans, increased 19.4% to Rs 25.8 billion versus Rs 21.6 billion last year. Other income stood at Rs 11.5 billon up 14.9% from Rs 10.2 billion a year ago.

Provisions and contingencies rose 14.8% to Rs306.91 crore in the quarter from Rs267.37 crore a year ago. On a quarter-on-quarter basis, they added 44.24% from Rs212.77 crore.

Gross non-performing assets (NPAs) advanced 6.9% to Rs3,825.38 crore at the end of the March quarter from Rs3,578.61 crore in the same quarter last year.

Asset quality improved marginally in the quarter. As a percentage of total loans, gross NPAs stood at 2.2% as compared to 2.3% in the previous quarter and 2.6% in the year-ago quarter. Net NPAs were at 0.98% in the March quarter compared to 1.09% in the previous quarter and 1.26% in the same quarter last year.

Kotak Mahindra Bank share price ended the day up by 1.8%.

Number of Years to 100x Returns

Do you know the number of years a stock takes to become a 100-bagger?

We did the math.

The BSE Sensex went up 100 times in 30 years.

So we can, assume this is the average time a blue-chip stock takes to return you 100 times your money.

Stocks like ACC, Infosys, and SBI, all blue chips in 2002, have gone up just 10 times since then.

But smaller companies can grow faster.

High-quality small caps don't need 30 years to multiply 100 times.

Kotak Mahindra Bank, took 15 years (2003-2018)

Titan needed 14 years (2003-2017)

Eicher Motors did it in just 9 years (2009-2018)

If these returns appeal to you, I recommend following Richa's mantra...

Be realistic.

Be patient.

And find the highest quality small caps to put your money in.

That's the most certain path to a 100 bagger.

This Chart Of The Day was published in The 5 Minute WrapUp - How to Find Multibagger Small Caps... A Tip from Jeff Bezos

Moving on to news from stocks in the auto sector. Mahindra & Mahindra (M&M) share price was in focus today after the company took a step towards bringing a driverless tractor to India's fields.

The world's largest tractor maker by volume, M&M rolled out a hightech, semi-autonomous tractor on its Nagpur manufacturing line, the Pack 1.

M&M is planning a soft launch scheduled in a month with select farmers for the new tractor.

These tractors offer a range of solutions in precision farming and remote driving. The company calls it a Pack 1 version, the development work on fully autonomous tractor called Pack 2 is also under works.

M&M had revealed plans to launch such autonomous tractors back in September last year.

Under the driverless technology, developed at Mahindra Research Valley (MRV) near Chennai, tractors with any field implement can be controlled and operated remotely using hand held tablets.

The technology is aimed at offering small farmers better operational efficiencies for tasks such as planting, spraying and harvesting.

Mahindra is currently validating the Pack 2 version, which is driverless and may be introduced overseas as regulation for a driverless tractor still does not exist in India.

M&M share price ended the day up by 1.3%.

And here's a note from Profit Hunter:

After the benchmark indices topped out in January 2018, the PSU banks witnessed massive selling pressure. The Nifty PSU bank index fell more than 30% from January 2018 high.

State Bank of India (SBI), the largest PSU bank in India, is currently trading at a very interesting point.

The stock has been trading in a broad range of 150 - 350 since May 2009. The level of 150 acted as a very good support while 350 acted as a good resistance. In this range, the 230 - 240 zone has also acted as a good support as well as resistance on multiple occasions.

In October 2017, the stock hit a high of 351 and fell to find support around 230 - 240 zone in March 2018. Last week, it hit a low of 232.50 and rebounded strongly. It is now forming a double bottom pattern on the daily chart. The RSI indicator also formed a bullish divergence with the price.

So does this indicate that the stock will re-test its October 2017 high? Let's keep a close watch on it.

SBI Bounced Up From Strong Support Zone

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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